FX rates 19.04.2024
All FX rates
EUR - 25.265 CZK
USD - 23.707 CZK
GBP - 29.516 CZK

Global Economic Outlook 4/2024 is out now

The April issue of Global Economic Outlook presents the regular monthly overview of recent and expected developments in selected territories. The analytical part of this issue looks at the individual shocks brought about by climate change and, based on a simulation of a global model for selected long-term climate scenarios, presents recommendations for monetary policy-makers.

Bank lending survey – II/2024

Banks’ credit standards for loans to corporations were unchanged in 2024 Q1 and corporate demand for loans fell in line with banks’ expectations. Credit standards for loans for house purchase eased and demand for loans increased further.

Presentation for IMF Annual Meetings – The CNB’s Forecast

Presentation by Bank Board member Karina Kubelková and Director of the External Economic Relations Division of the CNB Monetary Department Luboš Komárek for the conferences held during the 2024 International Monetary Fund Spring Meetings (pdf, 2.1 MB).

CNB WP 3/2024 – Understanding Inflation Expectations: Data, Drivers and Policy Implications

In this paper, the authors examine how inflation expectations are formed in the Czech economy and how they affect inflation developments. They also present a composite index which captures the overall trend in inflation expectations across the economy as a whole. Additionally, they extend their g3+ structural core projection model by incorporating a modified mechanism for forming inflation expectations and link it to the aforementioned composite index. The simulation prepared using the adjusted model serves as a useful guide for monetary policymaking in an environment of high inflation.

cnBlog – The rise of artificial intelligence: Does humanity have a revolutionary yet double-edged weapon?

Artificial intelligence is currently one of the fastest-developing and revolutionary technologies in the world. Luboš Komárek and Michaela Ryšavá from the CNB’s Monetary Department focus not only on the positive effects of AI from the point of view of economics, but also on the potential risks and negative impacts on people’s lives.

CNB WP 1/2024 – Wage-Price Spirals: A Risk-Based Approach

The global discussion about wage-price spirals has revived recently due to the wave of elevated inflation. This paper proposes a new approach to their empirical analysis, which is based on an assessment of the risk of simultaneous rapid growth in wages and prices. The proposed framework allows us to identify forthcoming episodes of elevated wage-price spiral risk and episodes of its materialization. Moreover, we show that the risk of a wage-price spiral varies with the usual business cycle factors and monetary policy.

Read CNB Governor Aleš Michl’s selected speeches and interviews in which he explains how the central bank is fighting inflation and what steps it is taking to achieve price stability.

The older 1995–1999 versions of Czech banknotes have ceased to be legal tender. How can you identify the invalid banknotes most easily and where can you exchange them?

Key rates

4.75%

Discount Rate

5.75%

2W Repo Rate

6.75%

Lombard Rate

1.75%

CCyB
Rate

Inflation

2.0%

March 2024

CNB current forecast

2.6%

Inflation
2024

2.0%

Inflation
2025

0.6%

GDP
2024

2.4%

GDP
2025

Golden Rules for Bureau-de-Change Clients

  1. Change money only at designated bureaux de change. Before changing money, carefully read all the information given on the exchange rate list.
  2. The terms “purchase and sale of foreign currency” and the corresponding exchange rates, i.e. the information about the direction of the exchange, are given from the bureau de change’s perspective...

More about ten golden rules

CNB resumes operation of services at its branches

  • All branches and regional offices of the Czech National Bank will return to full operation, five days a week, from Monday, 14 December 2020.
  • The standard opening hours for CNB clients and the public will be Monday to Friday from 7.30 am to 2.00 pm, with a lunch break from 11.30 am to 12.30 pm.
  • Before your visit, you can check the opening hours for each of our offices on the CNB website (Prague, Brno, Ostrava, Plzeň, Hradec Králové, České Budějovice and Ústí nad Labem).